The global financial crisis has not yet hit bottom and its impact is still spreading, said Chinese Premier Wen Jiabao during his first-ever online chat Saturday.
He also promised that China is "ready to take firmer and stronger actions whenever necessary."
The major impact of the crisis is on the country's real economy instead of its financial sector, which after more than 10 years of reform, is relatively stable and healthy and capable of withstanding the crisis, he said.
Wen said China's east coastal areas were hit hard, where the economy is more export-dependent and labor intensive. The decline of international market demands also caused the unemployment of a great number of migrant workers.
China's gross domestic product (GDP) grew 9 percent year-on-year last year, the lowest since 2001, when an annual rate of 8.3 percent was recorded.
To cushion the blow of the international financial crisis, Wen said China announced a package of stimulus plans covering four aspects.
The first is the announcement a 4-trillion-yuan (588 billion U.S. dollars) economic stimulus and tax cuts. The second involves revitalizing ten key industries. The third is technical upgrading. The fourth is the building of a comprehensive social security network.